Personal loan payment
Ravikumar
(Querist) 07 March 2013
This query is : Resolved
Dear sir
I took personal loan from one of the private finance ( not they're telling it's bank) at the year of 2003 and last payment paid at Oct 2004 due to some reason. (they collected two PDC at single time without any notice).
After that )ct 2004 i did not paid any EMI, now they're calling me over my cell told to me that i have to pay Rs.89K.
One and only doubt that it is possible private finance or private bank able to collect their out standing dues after six or seven years?
Please clarify my doubts.
Thanks
Ravi
Kumar Doab
(Expert) 07 March 2013
Ideally speaking if you have borrowed you should pay.
If there are some issues pertaining to charges, services etc company get these resolved with the company.
Company might resort to declaring you defaulter in the records of the bad customers list of the company, credit bureaus, and in future you may face issues.
The loan might have become time barred. If it has become time barred, the lender can not push and threat legal action etc. You can tell them it is time barred.
It might have been reset in the interim, if you have acknowledged the loan in writing or made part payment.
However show all documents and give inputs to your lawyer and let your lawyer finally opine on it.
Sankaranarayanan
(Expert) 07 March 2013
when the last emi you paid and when they deposited your PDC was deposited and what amount was mentioned ,. is any legal notice came after the cheque bounce. if then which day and what reply was made those time. Is any communication or intimation or notice issued or served during this year either by post or impersonally. With out all details we can t tell our ideas and views.
AS simple as if you borrowed money and enjoyed or used .utilize then forth you are liability to reply that debts.
